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>On Wed, 23 Sep 1998, Earl wrote:
>>Hmm, so what is the difference between Close and Settle?.....
>
>There isn't any. The CBOT's definition for Settlement Price
>is "The last price paid for a commodity on any trading
>day.......Also referred to as......closing price". The CME's
>definition is "The official daily closing price of futures
>contracts".
>
>Best regards,
>Jim
But they do have a committee that determines after the market has been
closed, just what that last trade price is. And I might add that agreed
upon price is often in way reflects the last traded price. This is still
just another way that the exchanges conspire to commit fraud on the public.
Especially if it is on option expiration!!! Been there and a victim of that.
However I do agree it should be the last price paid, but its not really that
way. MB
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